The tariffs will start at 10% and rise to 25% on 1 January, the White House announced.

Sohn said he thinks that China will retaliate against every USA tariff and that the back-and-forth sparring will escalate until the U.S.is taxing all Chinese imports - $524 billion past year.

In a pair of early morning tweets, Trump hailed his combative trade policy as a boon to American economic health and said the United States steel industry, which the White House has championed in new protectionist measures, was now "the talk of the world". American officials also worry they might erode US industrial leadership.

China is expected to further retaliate against the United States, and top officials have warned that could include penalizing U.S. companies that rely on Chinese components for phones, cars, televisions, and other products.

The trade war between America and China has escalated, fuelling fears that the global economy could be dragged down.

The tariffs will be applied to more than 1,000 Chinese products, including consumer goods like electronics, bicycles, tires, and furniture - all pumped out of Chinese factories in vast quantities for cheap export.

With the new tariffs, about half of China's imports to the United States are covered by punitive trade measures.

Rather, the United States unilaterally abrogated the treaty in order to strengthen the strategic position of the USA in the Middle East by countering the influence of Iran, and because European corporations stood to benefit from the opening up of new economic opportunities in that country at the expense of their U.S. rivals.

Fang Xinghai, vice chairman of China's securities regulator, told a forum in the Chinese port city of Tianjin on Tuesday that he hopes the two sides can sit down and talk, but added that the latest USA move has "poisoned" the atmosphere for negotiations. "I think that kind of tactic is not going to work with China", Fang Xinghai, vice chairman of China's securities regulator, said at a conference in the port city of Tianjin.

China's yuan currency has weakened by about six percent against the U.S. dollar since mid-June, offsetting the 10 percent tariff rate by a considerable margin.

The timing for activating the additional tariffs was unclear.

"We welcome any immediate, serious talks with China".

Oil prices rebounded from earlier losses as supply concerns outweighed assurances from Washington that Saudi Arabia, Russia and the United States can raise output fast enough to offset falling supplies from Iran and elsewhere. At the same time, China introduced its own tariffs to the same value.

Other commentators have suggested Beijing use its holdings of US government debt or target American companies in China.

Now the State Department has warned that European companies are "on the railroad tracks" if they defy USA sanctions and firms that deal with the "enemy" will be barred from access to the U.S. financial system. This was made clear earlier this year when Washington designated China as a "strategic competitor", that is, a potential military enemy. "The unilateral and hegemonic moves by the U.S. will meet firm countermeasures from China.China will not just play defense", the Global Times says.

Harley-Davidson will have to bump up the Chinese price of its iconic motorbikes at least 20 percent, a store representative in Beijing said. "And it was not under Bush", said Derek Scissors, a China expert at the American Enterprise Institute. The iPhone maker's shares were down 2.7 percent, providing the biggest drag on the Dow, despite earlier reports that the United States would spare some of its products in the latest round of tariff actions.

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